A mortgage firm out of Ohio said it expanded staffing as it prepares for an influx of new government business as a result of lower premiums.
Mortgage insurance premiums on loans insured by the Federal Housing Administration are being lowered, the Obama administration said last week.
The 50-basis-point reduction
takes effect on traditional FHA-insured mortgages that have new case numbers assigned on or after Jan. 26.
Seizing the opportunity to capture some of this business is NLC Loans.
The Independence, Ohio-based company said Monday that
its personal mortgage advisors and customer service associates are ready to help prospective borrowers take advantage of the lower M.I. premiums.
“NLC Loans is excited to announce ramped up staffing in response to the impending cuts to FHA mortgage insurance premiums,” the statement said.
NLC claims to be “one of the fastest growing and most successful privately held mortgage bankers in the nation” and says it was designated as a top workplace by the Cleveland Plain Dealer in 2012 and 2013.
NLC Loans Chief Executive Officer Jeremy Sopko called the news “huge,” adding, “we want to help as many people as possible take advantage of it.”
A spokeswoman for NLC, which also operates as Nations Lending Corp., didn’t immediately respond to a request for information about the number of hirings.
But on its website,
open jobs include originators, processors and underwriters.
